7-Eleven

6604 FM741, Heartland, TX 75126

$6,891,000

Cap Rate 5.00%

Views: 20 DOM: 17 Updated: 10.29.24 Posted: 10.29.24 Status: Active

Summary

Price $6,891,000	Built/Renov 2023	Tenant 7-Eleven
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,872	Lease Start 08-10-2023	#Units 83,282
Price/SF $1,414.41	Expiration 08-31-2038	Tenant Type Convenience/Gas
NOI $344,515	R. Term 13.9	Ownership Fee Simple
Rent/SF $70.71	Increases 7.5%/5/yrs	Pop 5Mi 63,418
Lot/AC 1.25	Options 4/5yrs/7.5%	AHHI 5Mi $73,934

Lease Highlights

Brand new 2023 construction
New 15-year lease with 4 (5-year) options to extend
7.5% rent increases every 5 years, starting year 6 in primary term and year 16 in options
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located at the hard corner intersection of Heartland Parkway and FM 741, with access to a combined daily traffic count of 14,475 vehicles. The property is conveniently situated near several feeder schools including Barbara Walker Elementary, Hollis T. Dietz Elementary, The Goddard School, and Crandall Middle School. The immediate area features notable national tenants...

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Key Features

New construction
Hard corner intersection
Freeway close
Highway location
Top 100 MSA
New development zone
Income tax free state
Long 15+ yr lease
Corporate Guarantee
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Heartland, Texas Zip Code 75126 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: 7-Eleven
Guarantor:Corp T and Rated
Company:Seven & I Holdings Co., Ltd
# Units:83,282
Tenant S&P: A
Moody’s: Baa2
Stock: OTCMKTS: SVNDY

About Tenant

7-Eleven is the world's largest operator, franchisor, and licensor of convenience stores. It operates, franchises, and/or licenses more than 83,000 stores in 19 countries, including over...

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Listing Broker

Edward Benton

Secure Net Lease

Contact

36 Listings
3826 Views
7 Sold

Bob Moorhead

Secure Net Lease

Contact

85 Listings
8168 Views
33 Sold

Edward Benton

With over 13 years of commercial real estate experience and a diverse investment sales background, Ed Benton advises clients in the acquisition and disposition of multi-tenant and single tenant investment properties nationwide. Ed started his career with Marcus & Millichap in 2006 and worked at a boutique retail development and brokerage company before joining Secure Net Lease in August of 2019. Ed’s wide breadth of experience working with developers and restaurant operators as well as p

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Bob Moorhead

Bob Moorhead is a founding partner of Secure Net Lease and brings over 20 years of commercial real estate experience to the executive team. Prior to Secure Net Lease, Bob was the Managing Director of EXP Realty Advisors (formerly Kimco Exchange Place) Dallas, Texas office. While at EXP, Bob was a top producer and responsible for establishing the Dallas office, building the team and platform. Since 2011, Bob has been involved in over 600 transactions with a value exceeding $1.5 billion.

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